Bitcoin Lightning Network Is Shutting Down Its Current Version

In a recent update, Mash, a provider of Bitcoin Lightning Network infrastructure, has announced the discontinuation of its current version.

Azcnews Bitcoin Lightning Network Is Shutting Down Its Current Version

This decision comes nearly two years after Mash successfully concluded a $6 million seed round in June 2022 to develop its usage-based revenue model for content creators.

All Mash products and services will cease operation on May 17th, 2024, at 9am Eastern Time. Users are advised to withdraw any funds they hold on Mash products as they will become inaccessible after this date. Funds can be transferred to Lightning-enabled wallets such as Cash App, Mutiny Wallet, Kraken Zeus, Breeze, ZBD, Phoenix, and others. The team expressed gratitude for the support received over the years and hinted at a possible return after reimagining their platform.

The Lightning Network serves as a layer-2 solution built atop the Bitcoin blockchain, playing a pivotal role in addressing scalability issues within blockchain systems. Among layer-2 solutions, the Lightning Network stands out due to its close ties to Bitcoin’s ecosystem and its capacity to enhance the chain’s utility.

Related: Bitcoin Slides to $62,500 as Whales Continue Accumulating

Originally conceived as a peer-to-peer electronic cash system, Bitcoin prioritized direct value transfers without intermediaries. Initially, scalability and transaction throughput were not primary considerations for Bitcoin’s creators. However, as time passed, these limitations became increasingly apparent, giving rise to what became known as the blockchain trilemma—a challenge in balancing decentralization, scalability, and security.

Bitcoin has achieved notable decentralization and is widely regarded as secure. Nonetheless, scalability remains a persistent concern, particularly evident in the time taken for Bitcoin transactions to finalize, ranging from minutes to several hours on the network.


(1 vote)
  1. Avatar of TUNDE Olagunju
    TUNDE Olagunju

    Is good be participating in this group

Leave a Reply

Your email address will not be published. Required fields are marked *


What Is Dogecoin Azc

Editor Choice | Research | research

What is Dogecoin? Exploring the World of the Memecoin DOGE

Memecoins have become a major trend in the crypto space, with many projects reaching billion-dollar market capitalizations. Dogecoin is considered a pioneering project that kicked off the memecoin craze. So, what is Dogecoin? Let's find out!

What Is A Cold Wallet Azc

Research | Editor Choice | research

What is a Cold Wallet? Top 3 Best Cold Wallets in the Crypto Market

Is a cold wallet an effective tool for storing cryptocurrencies? So, what is a cold wallet? What are some recommended types of hardware wallets to use? Let's find out together!

Azcnews Ctk Soars 100% In One Hour Ahead Of Major Update

News | Altcoin | Editor Choice

CTK Soars 100% in One Hour Ahead of Major Update

The price of the CTK token doubled within an hour ahead of the upcoming Shentu v2.10.0 update.

Azcnews A Major Uk Bank Officially Bans Cryptocurrency Transactions

News | Editor Choice | Policy & Regulations

A Major UK Bank Officially Bans Cryptocurrency Transactions

Starting May 30, the UK digital bank Kroo will prohibit its customers from conducting cryptocurrency transactions.

An Investor Becomes A Millionaire Thanks To Memecoin Shiba Inu

Altcoin | Editor Choice

An Investor Becomes a Millionaire Thanks to Memecoin Shiba Inu

An investor became a millionaire by holding Shiba Inu for 3 years, turning $2,700 into $1.2 million.